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Balanced and Cyclical Growth in Models of Decentralized Economy [electronic resource] / by Alexander P. Abramov.

By: Abramov, Alexander P [author.].
Contributor(s): SpringerLink (Online service).
Material type: materialTypeLabelBookSeries: Lecture Notes in Economics and Mathematical Systems: 672Publisher: Cham : Springer International Publishing : Imprint: Springer, 2014Description: XII, 194 p. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783319079172.Subject(s): Game theory | Economic theory | Macroeconomics | Economic growth | Economics | Economic Theory/Quantitative Economics/Mathematical Methods | Economic Growth | Game Theory, Economics, Social and Behav. Sciences | Macroeconomics/Monetary Economics//Financial EconomicsAdditional physical formats: Printed edition:: No titleDDC classification: 330.1 Online resources: Click here to access online
Contents:
Introduction.- Balanced Growth in Decentralized Economies -- Transition to Balanced Growth -- The Finance of the Transition Phase -- Production Capacities in Decentralized Economies -- Models of Technological Progress in Decentralized Economies -- Cyclical Growth in Decentralized Economies.- Final Consumption -- Appendix: Nonnegative Matrices -- Index.
In: Springer eBooksSummary: This book is devoted to the study of dynamical models of decentralized economic systems. The models considered are based on the Leontief simple dynamic model with various mechanisms for decentralized planning and management. Branches of the economic system are treated as fully independent economic agents that plan their work according to their own purposes. It is shown that the lack of coordination between economic agents leads to a limit cycle for some economic indicators. Conversely, the exchange of information between the economic agents enables a move toward balanced growth. These results are generalized for the model with dynamics of the productive assets and for the model with the final consumption. The analysis also considers a problem of endogenous technological progress in a decentralized economy. The appendix includes a short review of non-negative matrices. The book offers a valuable resource for mathematical economists and graduate students specializing in mathematical economics.
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Introduction.- Balanced Growth in Decentralized Economies -- Transition to Balanced Growth -- The Finance of the Transition Phase -- Production Capacities in Decentralized Economies -- Models of Technological Progress in Decentralized Economies -- Cyclical Growth in Decentralized Economies.- Final Consumption -- Appendix: Nonnegative Matrices -- Index.

This book is devoted to the study of dynamical models of decentralized economic systems. The models considered are based on the Leontief simple dynamic model with various mechanisms for decentralized planning and management. Branches of the economic system are treated as fully independent economic agents that plan their work according to their own purposes. It is shown that the lack of coordination between economic agents leads to a limit cycle for some economic indicators. Conversely, the exchange of information between the economic agents enables a move toward balanced growth. These results are generalized for the model with dynamics of the productive assets and for the model with the final consumption. The analysis also considers a problem of endogenous technological progress in a decentralized economy. The appendix includes a short review of non-negative matrices. The book offers a valuable resource for mathematical economists and graduate students specializing in mathematical economics.

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